By Michelle Conlin

NEW YORK (Reuters) - World Liberty Financial, the new crypto platform in which President Donald Trump holds a financial stake, announced that it was unveiling a strategic token reserve designed to bolster Bitcoin, ( BTC-USD ) Ethereum ( ETH-USD ) and other cryptocurrencies "that are at the forefront of reshaping global finance."

WLF said in a statement posted on X on Tuesday that its new token reserve would enable it to mitigate market volatility, empower the company to invest in innovative projects in decentralized finance, and develop a well-capitalized reserve. It also said it would seek strategic partnerships with financial institutions to contribute tokenized assets to the WLF reserve.

WLF did not respond to a request for comment. The White House and the Trump Organization also did not respond to requests for comment.

The announcement comes at a time when Trump and his family businesses are increasingly turning to making money from the world of crypto.

In addition to WLF, the Trump family's holdings include a majority stake in Trump Media & Technology Group, a social-media-and-streaming company that on January 29 announced it was pivoting into financial services tied to crypto.

Three days before his inauguration, the president also launched his $Trump meme coin.

Millions of dollars, including $100 million in fees alone off of the meme coin, have poured into entities connected to the president's new suite of crypto companies. WLF has already seen token sales of $500 million, by Reuters calculations.

In January, Trump said his assets, which are in a revokable trust, would be managed by his children while he is in office.

World Liberty Financial launched two months ahead of the U.S. presidential election. Trump and his affiliates own a 60% stake in its holding company and are entitled to 75% of revenues and 22.5 billion tokens, according to the company's website.

The news comes just three days after Donald Trump Jr., the president's eldest son, made a surprise appearance at the Ondo Summit in New York City, billed as Wall Street 2.0.